- Understand $forty stock

$FORTY Market Cap: $4.453 Billion

Research Board Inbox Deep Research Not Interested Shortlisted

Financial Snapshot

Revenue

$2.596B

TTM

Gross Margin

23.62%

TTM

Net Earnings

$81.59M

TTM

Current Assets

$1.284B

Q3 2022

Current Liabilities

$916.7M

Q3 2022

Current Ratio

140.07%

Q3 2022

Total Assets

$2.691B

Q3 2022

Total Liabilities

$2.142B

Q3 2022

Book Value

$548.5M

Q3 2022

Cash

$470.5M

Q3 2022

P/E

54.57

Nov 14, 2024 EST

Free Cash Flow

Revenues

Revenue YoY Change

Revenues

Concept	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Revenue	$2.404B	$1.934B	$1.701B	$1.493B	$1.355B	$1.109B	$973.2M	$636.4M	$796.7M	$744.7M	$640.6M	$549.7M	$469.4M	$590.8M	$493.4M	$492.7M	$506.4M	$456.6M	$366.8M
YoY Change	24.33%	13.69%	13.94%	10.17%	22.24%	13.92%	52.92%	-20.12%	6.98%	16.25%	16.54%	17.11%	-20.55%	19.74%	0.14%	-2.71%	10.91%	24.48%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Revenue	$2.404B	$1.934B	$1.701B	$1.493B	$1.355B	$1.109B	$973.2M	$636.4M	$796.7M	$744.7M	$640.6M	$549.7M	$469.4M	$590.8M	$493.4M	$492.7M	$506.4M	$456.6M	$366.8M
Cost Of Revenue	$1.841B	$1.486B	$1.315B	$1.160B	$1.058B	$849.8M	$741.3M	$530.1M	$603.1M	$564.8M	$492.9M	$412.5M	$352.3M	$452.3M	$369.1M	$340.0M	$333.5M	$285.0M	$230.5M
Gross Profit	$563.9M	$447.4M	$386.0M	$333.3M	$296.8M	$258.8M	$231.9M	$106.3M	$193.6M	$179.9M	$147.7M	$137.2M	$117.1M	$138.5M	$124.3M	$152.7M	$172.9M	$171.6M	$136.3M
Gross Profit Margin	23.45%	23.14%	22.69%	22.33%	21.9%	23.34%	23.83%	16.71%	24.3%	24.16%	23.06%	24.96%	24.95%	23.44%	25.19%	30.99%	34.14%	37.58%	37.16%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Selling, General & Admin	$290.0M	$222.0M	$200.9M	$182.5M	$184.2M	$148.0M	$140.9M	$70.52M	$117.9M	$110.8M	$93.30M	$84.50M	$77.30M	$95.10M	$90.50M	$113.7M	$133.0M	$128.5M	$107.1M
YoY Change	30.63%	10.51%	10.08%	-0.92%	24.47%	4.98%	99.86%	-40.19%	6.41%	18.76%	10.41%	9.31%	-18.72%	5.08%	-20.4%	-14.51%	3.5%	19.98%
% of Gross Profit	51.43%	49.61%	52.03%	54.75%	62.05%	57.17%	60.77%	66.32%	60.9%	61.59%	63.17%	61.59%	66.01%	68.66%	72.81%	74.46%	76.92%	74.88%	78.58%
Research & Development	$65.86M	$52.60M	$46.69M	$41.22M	$39.85M	$22.33M	$15.12M	$787.0K	$14.20M	$12.30M	$5.100M	$5.500M	$4.400M	$6.600M	$6.500M	$16.40M	$22.40M	$25.00M	$17.40M
YoY Change	25.2%	12.67%	13.26%	3.44%	78.49%	47.64%	1821.6%	-94.46%	15.45%	141.18%	-7.27%	25.0%	-33.33%	1.54%	-60.37%	-26.79%	-10.4%	43.68%
% of Gross Profit	11.68%	11.76%	12.09%	12.37%	13.43%	8.63%	6.52%	0.74%	7.33%	6.84%	3.45%	4.01%	3.76%	4.77%	5.23%	10.74%	12.96%	14.57%	12.77%
Depreciation & Amortization	$122.2M	$95.51M	$86.93M	$48.73M	$43.65M	$32.37M	$30.90M	$8.962M	$24.35M	$25.65M	$14.36M	$15.45M	$14.61M	$13.08M	$15.81M	$44.89M	$25.13M	$20.60M	$18.55M
YoY Change	27.93%	9.86%	78.38%	11.66%	34.83%	4.77%	244.74%	-63.2%	-5.07%	78.62%	-7.06%	5.75%	11.7%	-17.27%	-64.78%	78.63%	21.99%	11.05%
% of Gross Profit	21.67%	21.35%	22.52%	14.62%	14.7%	12.51%	13.32%	8.43%	12.58%	14.26%	9.72%	11.26%	12.48%	9.44%	12.72%	29.4%	14.53%	12.0%	13.61%
Operating Expenses	$355.8M	$274.6M	$247.6M	$223.7M	$224.0M	$170.3M	$156.1M	$71.30M	$132.0M	$122.9M	$98.50M	$90.20M	$82.30M	$104.7M	$97.10M	$130.1M	$155.5M	$153.5M	$124.5M
YoY Change	29.59%	10.92%	10.67%	-0.14%	31.56%	9.11%	118.88%	-45.99%	7.4%	24.77%	9.2%	9.6%	-21.39%	7.83%	-25.37%	-16.33%	1.3%	23.29%
Operating Profit	$208.0M	$172.8M	$138.5M	$109.6M	$72.81M	$88.50M	$75.87M	$35.04M	$61.60M	$57.00M	$49.20M	$47.00M	$34.80M	$33.80M	$27.20M	$22.60M	$17.40M	$18.10M	$11.80M
YoY Change	20.35%	24.8%	26.34%	50.56%	-17.73%	16.65%	116.54%	-43.12%	8.07%	15.85%	4.68%	35.06%	2.96%	24.26%	20.35%	29.89%	-3.87%	53.39%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Interest Expense	-$15.62M	-$19.96M	-$13.47M	-$5.916M	-$2.546M	-$11.24M	-$9.528M	-$4.866M	-$6.200M	-$6.700M	-$6.500M	-$4.400M	-$200.0K	-$6.300M	-$4.300M	-$8.100M	-$9.200M	-$8.900M	-$3.700M
YoY Change	-21.72%	48.11%	127.74%	132.36%	-77.34%	17.94%	95.81%	-21.52%	-7.46%	3.08%	47.73%	2100.0%	-96.83%	46.51%	-46.91%	-11.96%	3.37%	140.54%
% of Operating Profit	-7.51%	-11.55%	-9.73%	-5.4%	-3.5%	-12.7%	-12.56%	-13.89%	-10.06%	-11.75%	-13.21%	-9.36%	-0.57%	-18.64%	-15.81%	-35.84%	-52.87%	-49.17%	-31.36%
Other Income/Expense, Net	-$8.385M	-$6.930M	-$5.179M	-$2.374M	-$18.57M				$0.00	-$200.0K		$200.0K	$500.0K	-$400.0K	$1.900M	$2.900M	$3.300M	$8.600M	$2.700M
YoY Change	21.0%	33.81%	118.16%	-87.22%					-100.0%			-60.0%	-225.0%	-121.05%	-34.48%	-12.12%	-61.63%	218.52%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Pretax Income	$184.0M	$143.8M	$119.8M	$101.3M	$51.69M	$77.26M	$66.34M	$30.17M	$55.30M	$50.30M	$43.00M	$42.60M	$36.80M	$26.90M	$24.70M	$14.30M	$10.00M	$17.70M	$10.80M
YoY Change	28.0%	19.96%	18.27%	96.04%	-33.1%	16.47%	119.89%	-45.44%	9.94%	16.98%	0.94%	15.76%	36.8%	8.91%	72.73%	43.0%	-43.5%	63.89%
Income Tax	$42.61M	$31.27M	$27.20M	$24.30M	$17.60M	$21.16M	$15.98M	$10.07M	$8.900M	$6.600M	$5.700M	$6.500M	$8.300M	$3.500M	$1.900M	$3.500M	$5.200M	$4.600M	$2.500M
% Of Pretax Income	23.16%	21.75%	22.7%	23.98%	34.05%	27.39%	24.09%	33.39%	16.09%	13.12%	13.26%	15.26%	22.55%	13.01%	7.69%	24.48%	52.0%	25.99%	23.15%
Net Earnings	$54.59M	$46.78M	$38.82M	$32.37M	$10.35M	$22.45M	$19.83M	$80.83M	$81.00M	$24.00M	$43.00M	$18.40M	$19.10M	$12.40M	$37.30M	$10.00M	$200.0K	$8.100M	$3.100M
YoY Change	16.69%	20.49%	19.94%	212.64%	-53.88%	13.19%	-75.47%	-0.21%	237.5%	-44.19%	133.7%	-3.66%	54.03%	-66.76%	273.0%	4900.0%	-97.53%	161.29%
Net Earnings / Revenue	2.27%	2.42%	2.28%	2.17%	0.76%	2.02%	2.04%	12.7%	10.17%	3.22%	6.71%	3.35%	4.07%	2.1%	7.56%	2.03%	0.04%	1.77%	0.85%
Basic Earnings Per Share
Diluted Earnings Per Share	$3.544M	$3.059M	$2.530M	$2.194M	$702.7K	$1.446M	$1.352M	$5.610M	$5.745M	$1.739M	$3.139M	$1.363M	$1.404M	$939.4K	$2.826M	$751.9K	$15.63K	$750.0K	$238.5K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Cash & Short-Term Investments	$512.5M	$533.2M	$405.2M	$295.3M	$260.8M	$275.7M	$283.4M	$129.7M	$100.8M	$126.1M	$107.7M	$148.7M	$158.2M	$156.8M	$177.5M	$116.4M	$81.80M	$107.2M
YoY Change	-3.89%	31.6%	37.21%	13.22%	-5.4%	-2.73%	118.61%	28.63%	-20.06%	17.08%	-27.57%	-6.01%	0.89%	-11.66%	52.49%	42.3%	-23.69%
Cash & Equivalents	$485.4M	$501.7M	$368.7M	$268.5M	$245.9M	$238.2M	$249.1M	$107.4M	$82.10M	$111.2M	$88.20M	$110.5M	$100.2M	$110.6M	$161.5M	$116.4M	$81.80M	$107.2M
Short-Term Investments	$27.07M	$31.53M	$36.49M	$26.79M	$14.87M	$37.53M	$34.29M	$22.24M	$18.60M	$14.90M	$19.50M	$38.20M	$58.00M	$46.20M	$16.00M
Other Short-Term Assets								$0.00	$19.30M	$19.70M	$33.60M	$23.10M	$22.40M	$16.10M	$18.80M	$19.20M	$37.20M	$35.20M
YoY Change								-100.0%	-2.03%	-41.37%	45.45%	3.13%	39.13%	-14.36%	-2.08%	-48.39%	5.68%
Inventory	$21.22M	$23.99M	$8.636M	$3.882M	$3.299M	$3.953M	$4.807M	$2.259M	$2.400M	$2.100M	$2.500M	$5.600M	$2.400M	$2.800M	$3.200M	$3.100M	$3.800M	$4.700M
Prepaid Expenses
Receivables	$696.3M	$519.9M	$486.0M	$441.5M	$385.8M	$308.3M	$257.6M	$195.3M	$201.1M	$201.9M	$163.2M	$154.4M	$130.2M	$158.2M	$179.7M	$165.4M	$156.2M	$144.5M
Other Receivables	$72.12M	$83.82M	$65.71M	$40.46M	$44.91M	$45.68M	$43.11M	$14.98M	$15.40M	$19.10M	$0.00	$0.00	$0.00	$0.00	$100.0K	$0.00	$900.0K	$0.00
Total Short-Term Assets	$1.302B	$1.161B	$965.5M	$781.1M	$694.8M	$633.7M	$589.0M	$358.5M	$338.9M	$369.0M	$307.0M	$331.8M	$313.4M	$333.8M	$379.2M	$304.1M	$279.9M	$291.6M
YoY Change	12.17%	20.23%	23.61%	12.42%	9.65%	7.59%	64.29%	5.78%	-8.16%	20.2%	-7.47%	5.87%	-6.11%	-11.97%	24.7%	8.65%	-4.01%
Property, Plant & Equipment	$172.7M	$173.6M	$147.2M	$29.18M	$29.81M	$26.13M	$22.00M	$20.13M	$19.40M	$21.50M	$19.20M	$12.40M	$10.00M	$15.20M	$15.80M	$18.50M	$23.50M	$26.50M
YoY Change	-0.5%	17.94%	404.38%	-2.1%	14.07%	18.76%	9.33%	3.74%	-9.77%	11.98%	54.84%	24.0%	-34.21%	-3.8%	-14.59%	-21.28%	-11.32%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$28.90M	$28.31M	$26.02M	$25.71M	$25.32M	$41.29M	$30.88M	$202.9M	$162.0M	$3.400M	$79.90M	$6.000M	$13.60M	$19.50M	$3.800M	$2.100M	$20.30M	$24.40M
YoY Change	2.08%	8.8%	1.21%	1.56%	-38.69%	33.73%	-84.78%	25.24%	4664.71%	-95.74%	1231.67%	-55.88%	-30.26%	413.16%	80.95%	-89.66%	-16.8%
Other Assets	$70.04M	$62.62M	$61.07M	$37.34M	$32.46M	$29.64M	$27.85M	$93.51M	$90.10M	$85.70M	$65.00M	$73.90M	$44.10M	$58.00M	$52.80M	$107.7M	$103.3M	$96.40M
YoY Change	11.85%	2.54%	63.57%	15.02%	9.52%	6.41%	-70.21%	3.78%	5.13%	31.85%	-12.04%	67.57%	-23.97%	9.85%	-50.97%	4.26%	7.16%
Total Long-Term Assets	$1.446B	$1.359B	$1.124B	$883.5M	$868.8M	$720.9M	$626.4M	$766.6M	$538.6M	$511.9M	$362.2M	$292.0M	$253.0M	$262.8M	$233.4M	$291.4M	$350.2M	$349.4M
YoY Change	6.42%	20.95%	27.2%	1.68%	20.53%	15.08%	-18.29%	42.34%	5.22%	41.33%	24.04%	15.42%	-3.73%	12.6%	-19.9%	-16.79%	0.23%
Total Assets	$2.749B	$2.520B	$2.089B	$1.665B	$1.564B	$1.355B	$1.215B	$1.125B	$877.5M	$880.9M	$669.2M	$623.8M	$566.4M	$596.6M	$612.6M	$595.5M	$630.1M	$641.0M
YoY Change
Accounts Payable	$205.8M	$153.3M	$125.2M	$118.8M	$95.34M	$80.11M	$68.05M	$52.69M	$52.60M	$51.90M	$40.30M	$53.20M	$43.80M	$57.20M	$57.10M	$54.50M	$47.50M	$41.60M
YoY Change	34.25%	22.5%	5.37%	24.59%	19.0%	17.73%	29.15%	0.18%	1.35%	28.78%	-24.25%	21.46%	-23.43%	0.18%	4.77%	14.74%	14.18%
Accrued Expenses	$207.6M	$190.2M	$142.0M	$114.9M	$111.7M	$90.71M	$76.65M	$71.82M	$54.40M	$62.10M	$43.50M	$50.90M	$10.00M	$20.30M	$12.80M
YoY Change	9.1%	33.95%	23.61%	2.86%	23.15%	18.34%	6.73%	32.02%	-12.4%	42.76%	-14.54%	409.0%	-50.74%	58.59%
Deferred Revenue
YoY Change
Short-Term Debt	$86.47M	$43.79M	$60.43M	$4.891M	$0.00	$0.00	$0.00	$15.69M	$11.60M	$8.500M	$5.000M	$500.0K	$3.200M	$2.600M	$30.50M	$50.00M	$113.4M	$137.3M
YoY Change	97.47%	-27.54%	1135.6%				-100.0%	35.27%	36.47%	70.0%	900.0%	-84.38%	23.08%	-91.48%	-39.0%	-55.91%	-17.41%
Long-Term Debt Due	$179.3M	$150.2M	$131.9M	$122.1M	$75.65M	$88.03M	$59.30M	$27.50M	$24.10M	$30.80M	$43.20M	$22.10M	$21.50M	$13.30M
YoY Change	19.42%	13.86%	8.02%	61.43%	-14.07%	48.47%	115.63%	14.1%	-21.75%	-28.7%	95.48%	2.79%	61.65%
Total Short-Term Liabilities	$947.6M	$779.9M	$671.4M	$525.5M	$432.9M	$359.0M	$290.8M	$226.6M	$211.0M	$223.3M	$181.2M	$178.0M	$159.9M	$190.2M	$160.6M	$178.2M	$243.0M	$267.0M
YoY Change	21.5%	16.16%	27.75%	21.39%	20.59%	23.47%	28.33%	7.39%	-5.51%	23.23%	1.8%	11.32%	-15.93%	18.43%	-9.88%	-26.67%	-8.99%
Long-Term Debt	$447.1M	$474.6M	$411.2M	$254.4M	$269.4M	$171.1M	$161.3M	$109.1M	$63.90M	$66.40M	$51.60M	$35.00M	$52.50M	$72.60M	$145.2M	$148.4M	$113.6M	$89.70M
YoY Change	-5.79%	15.42%	61.6%	-5.54%	57.45%	6.09%	47.8%	70.74%	-3.77%	28.68%	47.43%	-33.33%	-27.69%	-50.0%	-2.16%	30.63%	26.64%
Other Long-Term Liabilities	$64.22M	$60.52M	$41.34M	$28.65M	$30.33M	$29.12M	$21.32M	$89.84M	$89.10M	$92.50M	$67.90M	$73.70M	$56.50M	$51.90M	$500.0K
YoY Change	6.13%	46.41%	44.28%	-5.53%	4.13%	36.6%	-76.27%	0.83%	-3.68%	36.23%	-7.87%	30.44%	8.86%	10280.0%
Total Long-Term Liabilities	$511.3M	$535.1M	$452.5M	$283.1M	$299.7M	$200.2M	$182.6M	$198.9M	$153.0M	$158.9M	$119.5M	$108.7M	$109.0M	$124.5M	$145.7M	$148.4M	$113.6M	$89.70M
YoY Change	-4.44%	18.25%	59.85%	-5.54%	49.69%	9.65%	-8.23%	30.03%	-3.71%	32.97%	9.94%	-0.28%	-12.45%	-14.55%	-1.82%	30.63%	26.64%
Total Liabilities	$2.208B	$2.017B	$1.668B	$1.297B	$1.204B	$1.018B	$885.5M	$735.4M	$555.3M	$635.9M	$450.6M	$426.2M	$378.4M	$426.7M	$414.2M	$442.2M	$466.6M	$454.2M
YoY Change	9.46%	20.94%	28.58%	7.68%	18.3%	14.98%	20.41%	32.44%	-12.67%	41.12%	5.73%	12.63%	-11.32%	3.02%	-6.33%	-5.23%	2.73%

Ownership

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Stock Issuance & Repurchase

Ownership Data

Concept	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Basic Shares Outstanding
Diluted Shares Outstanding
Preferred Stock
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Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $4.4526 Billion

About

Formula Systems (1985) Ltd. engages in the provision of software solutions and Information Technology professional services. The Company, through its directly held subsidiary and affiliated companies, is engaged in providing software solutions and services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration. The firm operates through two segments: software services and IT professional services. The software services segment develops markets, sells and supports an application platform, software applications, business and process integration solutions, and related services. The IT professional services segment offers IT services in the areas of infrastructure design and delivery, application development, technology planning and implementation services, communications services and solutions, as well as supplemental outsourcing services.

Industry: Services-Computer Programming Services Peers: Hub Cyber Security Ltd